The Biden (interim) Dictator

[dal9]

Meanwhile we’re over there threatening them with sanctions and even military action.


https://twitter.com/michaeltanchum/status/1562338982737895424?s=21&t=IbKySinpaFoqwBVQoH8URA

these Africans will never learn responsibility if they keep getting their loans forgiven by the Chinese

[dal9]

im actually not a huge fan of student loan forgiveness, but this is pretty good
https://twitter.com/michaelarria/status/1562808928001757185

[sonofdaxjones]

Is this person paying back their PPP Loan?

[sonofdaxjones]

Meanwhile we’re over there threatening them with sanctions and even military action.


https://twitter.com/michaeltanchum/status/1562338982737895424?s=21&t=IbKySinpaFoqwBVQoH8URA

these Africans will never learn responsibility if they keep getting their loans forgiven by the Chinese

Yep, best they learn responsibility at the blunt end of a 1000 pound laser bomb and JSOC drones!! amirite??

[sys]

im actually not a huge fan of student loan forgiveness, but this is pretty good
https://twitter.com/michaelarria/status/1562808928001757185

dem twitter's arguments in this vein have been misleading at best, dishonest at worst.  you'd think they'd have some sense of shame, but that seems to have been left in the past by both parties.


https://twitter.com/hamandcheese/status/1562927185383546881

[sonofdaxjones]

Number of jobs reported as retained by PPP:  89.9 million

[MakeItRain]

It's disingenuous to compare PPP loans to student loans because the student loan program isn't rife with fraud and racial biases to acquire them, like the PPP loans were.

PPP loan forgiveness should have been targeted, it wasn't, therefore people are absolutely right to point this out and criticize the fact that it wasn't. I don't know why people are surprised the government was more forgiving to banks and million dollar companies than they were social workers making $35,000 dollars a year. I'm equally confused about why people, like sys, act like the working class taking offense to the government once again, treating them worse than the proletariat, is something to be mocked.

I guess we agree that they shouldn't be surprised when American government policymakers show poor judgment and screws the working class over. I'm just not willing to go the extra step and mock people for it.

[sonofdaxjones]

Colleges and Universities are not being held to account and being brought to the carpet to explain why their costs have outpaced inflation by  percentages.'

It's simply okay to admit that this was a mid-term vote solidification effort and a flower toss/love letter to the largest portion of Joe Biden's base.

[sonofdaxjones]

On the cusp of finding a massive loophole, and thus avoiding the taxes which are the primary bases of funding Biden's ridiculously named Inflation Reduction Act?   Who actually believes this will reduce inflation?  Certainly not the CBO. 

Stay tuned

At the center of their efforts is the use of accelerated share repurchase (ASR) programs, a commonly used mechanism allowing companies to complete buybacks that can be worth billions of dollars.

Although the programmes are recorded as having been executed on a single day, it often takes several months for banks to complete the trades.

The plans hinge on whether forthcoming Treasury guidance will count the day that the company forks over the cash and receives its shares as the date of the buyback, or whether they will have to wait until investment banks actually buy the stock in the open market.  (Wall Street hunts for ways to skirt Biden’s share buyback tax-Financial Times)

Edit:  Note for you investors out there.  Look for companies who planned buy-backs in 2023, to move them to 2022.

Worse then Joe going to bat for Delaware banks on the bankruptcy overhaul??  Debateable

[MakeItRain]

Colleges and Universities are not being held to account and being brought to the carpet to explain why their costs have outpaced inflation by  percentages.'

It's simply okay to admit that this was a mid-term vote solidification effort and a flower toss/love letter to the largest portion of Joe Biden's base.

I don't think a single person disagrees with your first point, dax.

I'm not going to dismiss the timing of this has to do with the midterm elections, but it doesn't make much sense if it does. Not a single person in Congress is going to vote for or against it. If you're going to insist it's an election trick, which it very well may be you also need to point out that he's keeping an election promise, this wasn't some unforseen shot in the dark.

[Rage Against the McKee]

He actually went above and beyond his promise by keeping interest deferred for as long as he has.

I don't understand forgiving debt and then continuing to provide loans in the exact same way that necessitated forgiveness, though. I'd have preferred allowing loans be discharged in bankruptcy for those who need it and making everyone else keep making payments.

[sonofdaxjones]

Colleges and Universities are not being held to account and being brought to the carpet to explain why their costs have outpaced inflation by  percentages.'

It's simply okay to admit that this was a mid-term vote solidification effort and a flower toss/love letter to the largest portion of Joe Biden's base.

I don't think a single person disagrees with your first point, dax.

I'm not going to dismiss the timing of this has to do with the midterm elections, but it doesn't make much sense if it does. Not a single person in Congress is going to vote for or against it. If you're going to insist it's an election trick, which it very well may be you also need to point out that he's keeping an election promise, this wasn't some unforseen shot in the dark.

Of course it was a campaign promise.  What I'm making fun of is the ridiculous over-the-top attempts to sell it to the public.  One example: PPP was wrought with fraud is not a defense for SL forgiveness.  One could easily make the argument that SL's were wrought with fraud and misuse as well.  Ridiculous hyper-inflated income potential marketing by colleges and universities, loan proceeds used for non-educational/non-life sustenance needs (wants in this case) etc. etc.

[sys]

I'm equally confused about why people, like sys, act like the working class taking offense to the government once again, treating them worse than the proletariat, is something to be mocked.

lol @ the idea the student loan cancellation beneficiaries are the "working class".  these are among the most fortunate members of american society, claiming their due as valued members of the dem coalition, utterly uncaring that they are asking those less fortunate than themselves to subsidize their selfishness.

no different than the salt deduction reform rollback fiends.


note that these data start at age 25, which means it includes young professionals earning relatively low salaries, but on track for lifetime earnings in excess of all but a handful of non-college workers.

https://twitter.com/Daniel_Laurison/status/1563008790881980417

[Kat Kid]

I'm equally confused about why people, like sys, act like the working class taking offense to the government once again, treating them worse than the proletariat, is something to be mocked.

lol @ the idea the student loan cancellation beneficiaries are the "working class".  these are among the most fortunate members of american society, claiming their due as valued members of the dem coalition, utterly uncaring that they are asking those less fortunate than themselves to subsidize their selfishness.

no different than the salt deduction reform rollback fiends.


note that these data start at age 25, which means it includes young professionals earning relatively low salaries, but on track for lifetime earnings in excess of all but a handful of non-college workers.

https://twitter.com/Daniel_Laurison/status/1563008790881980417

First off, it is very funny that student loan forgiveness is the thing for you to break character and mount your steed and ride.

Secondly, if you have any data to support your claim that people carrying student loans and million dollar + home owners is some kind of perfect circle let’s see it.

[chum1]

I hope sys is right and that this turns out to be an uncharacteristically shrewd and successful ploy that helps Democrats win more elections.

[catastrophe]

I thought MIR was saying the working class was rightfully pissed off about student loan forgiveness, not the other way around.

[wetwillie]

If people receive this loan forgiveness will it be taxable?

[Rage Against the McKee]

If people receive this loan forgiveness will it be taxable?

Probably not, but it should be.

[Cire]

I'm equally confused about why people, like sys, act like the working class taking offense to the government once again, treating them worse than the proletariat, is something to be mocked.

lol @ the idea the student loan cancellation beneficiaries are the "working class".  these are among the most fortunate members of american society, claiming their due as valued members of the dem coalition, utterly uncaring that they are asking those less fortunate than themselves to subsidize their selfishness.

no different than the salt deduction reform rollback fiends.


note that these data start at age 25, which means it includes young professionals earning relatively low salaries, but on track for lifetime earnings in excess of all but a handful of non-college workers.

https://twitter.com/Daniel_Laurison/status/1563008790881980417

First off, it is very funny that student loan forgiveness is the thing for you to break character and mount your steed and ride.

Secondly, if you have any data to support your claim that people carrying student loans and million dollar + home owners is some kind of perfect circle let’s see it.

Makes sense because it's helping a disproportionate amount of people that work with kids.  Like 99% of teachers/social workers etc are getting this.

[Kat Kid]

The one thing that is insane is that they spent way more on this than the CTC. I get that Biden didn’t need to pass a vote but it is noteworthy.

[MakeItRain]

I don't understand forgiving debt and then continuing to provide loans in the exact same way that necessitated forgiveness, though. I'd have preferred allowing loans be discharged in bankruptcy for those who need it and making everyone else keep making payments.

I agree with your first sentence, I strongly disagree with the second. How can you say the situation that exists to create these loans is problematic, it is, then make the solution forcing people into government induced bankruptcy?

[MakeItRain]

I thought MIR was saying the working class was rightfully pissed off about student loan forgiveness, not the other way around.

The working class (should be) are pissed about unfettered PPP loan forgiveness. By the way, forgiveness given before corporations had to make payments. Those who are getting student loan forgiveness have been making and will continue to make payments after the forgiveness occurs.

[wetwillie]

I thought MIR was saying the working class was rightfully pissed off about student loan forgiveness, not the other way around.

The working class (should be) are pissed about unfettered PPP loan forgiveness. By the way, forgiveness given before corporations had to make payments. Those who are getting student loan forgiveness have been making and will continue to make payments after the forgiveness occurs.

Didn’t the working class likely benefit by remaining employed at their jobs when otherwise they would have lost them if not for the PPP loans?  I thought that whole thing was basically a cash transfer to payrolls that was intended to never be paid back if you followed the preset guidelines? I’m sure there was an assload of graft but these two scenarios seem to be non related.

[Rage Against the McKee]

I don't understand forgiving debt and then continuing to provide loans in the exact same way that necessitated forgiveness, though. I'd have preferred allowing loans be discharged in bankruptcy for those who need it and making everyone else keep making payments.

I agree with your first sentence, I strongly disagree with the second. How can you say the situation that exists to create these loans is problematic, it is, then make the solution forcing people into government induced bankruptcy?

I'm really not opposed to forgiveness that comes with a solution. I just prefer the bankruptcy option if no actual solution is presented. I'd like to see a structural change with hard caps on loan amounts, no federal loans for private education, and no federal loans for those paying out of state tuition. Allow private loans for situations where there are no federal loans, but allow those loans to be discharged through bankruptcy. Do something like that and then forgive outstanding debt.

[Rage Against the McKee]

I thought MIR was saying the working class was rightfully pissed off about student loan forgiveness, not the other way around.

The working class (should be) are pissed about unfettered PPP loan forgiveness. By the way, forgiveness given before corporations had to make payments. Those who are getting student loan forgiveness have been making and will continue to make payments after the forgiveness occurs.

Didn’t the working class likely benefit by remaining employed at their jobs when otherwise they would have lost them if not for the PPP loans?  I thought that whole thing was basically a cash transfer to payrolls that was intended to never be paid back if you followed the preset guidelines? I’m sure there was an assload of graft but these two scenarios seem to be non related.

In some cases, yes. In all cases, the employer benefitted by having their payroll covered, though, and there really isn't any reason they shouldn't be repaying the loans now.